Stop Driving Your Customers To The Competition
Recently a colleague of mine commented, “When Bob Janet makes proposals to a prospect it is not whether the prospect is going to purchase from Bob or from his competition. It is which one of Bob’s proposals the prospect is going to purchase.”
You see, I never offer a prospect just one proposal. I always offer three different proposals. Three different prices that reflect three different quantities and qualities of features and benefits. Prospects want a choice, so I give them a choice. A choice between proposal one, two or three. Not a choice between my competition and me.
I offer my prospects a Gold, a Silver or a Bronze agreement. Of course the Gold agreement has all the bells and whistles and cost the most. The Silver is a step down in cost and features- benefits. And of course the Bronze agreement contains less features and benefits than the Silver for an even lower cost. It is the old Good – Better – Best selection that has worked in retail sales since the beginning of bartering for goods and services.
When I sold jewelry and a customer was shopping for a diamond bracelet, I made sure they had at least 3 different ones on their arm. All at once if possible. It was the same when it came time to discuss payment options. I offered them Cash, Finance or Credit card. If they opted for Financing, I again offered them a choice. 90 days same as cash, 6 months same as cash or 1 year same as cash. We found giving choice worked so well in increasing our sales we even gave our customers 3 choice of wrapping paper for each category. (Birthday, wedding, baby, anniversary, etc.).
People buy and buy more when they feel they are in control. Giving your customers choices will give them the feeling of control.
Caution: You must always clearly explain the differences in benefits between the choices you are offering your prospect or they will become confused and you again will drive them to your competition.
Caution: Do not confuse your customers with to many choices at the same time. Watch their reactions and listen to what they are saying as you give them choices.
Make it a choice between what you offer…
…..not a choice between you and your competition